Guidelines to Prevent Information Misuse:
ESPN, a major player in sports media, is leaving no room for potential information misuse by its employees, especially designated "Insiders" or "Reporters." Released internally on November 10, the guidelines explicitly prohibit insiders from engaging in any form of betting on the leagues they cover, including the NFL and NBA.
Extensive Precautions to Prevent Insider Knowledge Misuse:
The company is taking extra precautions to prevent the use of confidential information for betting purposes, covering various aspects of potential insider knowledge, including player injuries, officials' decisions, and management insights. These guidelines apply to all ESPN employees, ranging from front-facing talents to production personnel and journalists working both on and off-site.
Stringent Stance Extends to Executives:
ESPN's stringent stance also extends to executives managing business relationships with leagues. The guidelines explicitly forbid betting on leagues or properties they handle on a day-to-day basis. Additionally, the company urges all employees to steer clear of participating in any form of illegal betting.
Restrictions on Awards, Personnel Decisions, and Draft Picks:
Certain types of bets, such as awards votes (e.g., league MVPs), player personnel decisions, and draft picks, are singled out for extra caution. ESPN aims to prevent its employees, particularly those with potentially relevant confidential information, from influencing or participating in these types of wagers.
Alignment with Disney Standards and Future Updates:
These guidelines were developed in alignment with The Walt Disney Company's Standards of Business Conduct and may see updates once ESPN BET goes live in 17 US states on November 14. The network has already initiated promotional efforts for ESPN BET, with anchor Scott Van Pelt leading the way.
Proactive Measures to Ensure Separation:
While ESPN declined to comment specifically on the guidelines, it is evident that the company is taking proactive measures to ensure the separation of its journalistic enterprise from the operations of the sportsbook. The memo explicitly states that no story should be reported, delayed, influenced, or withheld with the intention of impacting betting lines.
ESPN and Penn Entertainment Collaboration:
In August, ESPN and Penn Entertainment collaborated to launch ESPN BET, transforming the existing Barstool Sportsbook into an exclusive sportsbook deeply integrated into ESPN’s programming. The partnership, accompanied by a $1.5 billion cash infusion from Penn Entertainment to ESPN, aims to create a seamless sports betting experience for fans and capitalize on the growing legal sports betting market in the United States. The collaboration signifies ESPN’s strategic entry into the sports gaming arena, leveraging its platform for comprehensive gaming industry coverage and betting-oriented programming.